Europe Cloud Computing Market Size By Service (Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS)), By Organization (Large Enterprises, SMEs), By Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), By

Europe Cloud Computing Market Size By Service (Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS)), By Organization (Large Enterprises, SMEs), By Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), By Application (IT & Telecom, BFSI, Government and Public Sector, Healthcare, Retail, Manufacturing, Education), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

The Europe cloud computing market is slated to showcase steady growth through 2032 owing to the introduction of the hybrid cloud model which has in turn caused a dramatic surge in the implementation of cloud-based solutions.

The top businesses, including AWS, IBM, Microsoft, and Google, control the majority of the cloud computing market in Europe. To increase their market share in the region, the companies who are active in the sector are implementing methods including acquisitions and geographic growth. For example, IBM Corporation took over Nordcloud, a renowned European cloud service company, in December 2021 to enhance its hybrid cloud applications. The acquisition strengthened IBM’s cloud migration and transformation functionalities. The behemoths are also focusing on investment, growth plans, and partner network development.

The Europe cloud computing market has been divided in terms of service, organization size, deployment model, application, and country.

Based on service, the platform-as-a-service segment is expected to grow at 30% CAGR from 2023 to 2032. The extensive usage of PaaS in the creation and deployment of additional cloud applications has bolstered the market growth. Businesses are utilizing the top-notch development tools provided by PaaS for affordable app development. The use of the PaaS model for effective and speedy app designing, permitting scalability, and cost-effectiveness will be prompted by the growing use of mobile apps for businesses in Europe.

In terms of organization size, the SMEs segment is anticipated to attain high gains over the review period as a result of the increased adoption of cloud technology by SMEs for enhancing company capabilities. The increased popularity of cloud-based file storage options among these enterprises will also contribute to the expansion of cloud computing services in the EU market.

With respect to application, the government & public sector segment is speculated to grow positively through the forecast years. Cloud computing has become a crucial tactic for government organizations, with a heavy focus on increasing efficiency and lowering expenses. Besides, the private cloud segment is witnessing significant appeal among EU government entities credited to its extremely safe and dependable data method.

From the regional outlook, the Spain cloud computing market is poised to grow at over 25% CAGR from 2023 to 2032. The uptake of cloud computing services in Spain has been fueled by the availability of a highly skilled ICT workforce and the rising popularity of cloud computing platforms among Spanish businesses looking to cut costs on IT infrastructure.